What Are The Benefits of New GST Registration?

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What Are The Benefits of New GST Registration?
GST i.e. Goods Services Tax was announced as a
significant shift in the taxation system of
nation. It has been combined the various indirect
taxes in one that results in the simplified tax
structure. New GST Registration is not just
important but also very beneficial for the new
growing businesses. In this article we will tell
you about the various benefits of acquiring new
GST registration. Lets discuss about it.
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Who is Eligible for New GST Registration?

• Individuals enrolled under Pre-GST law i.e.
  Excise, VAT, Service Tax, etc.
• Businesses with an annual turnover of more than
  40 Lakhs while the limit is 20 Lakhs or 10 Lakhs
  for some state special category.
• Casual taxable person and Non-Resident Taxable
  person (NRIs)
• Agents of suppliers or Input Service Distributor
  (ISD)
• Vegetable Oil Processing Units as well as
  Production Units
• People paying taxes under the Reverse Charge
  Mechanism
• People who supply via e-commerce aggregator
• Person supplying online date database access
  from a place outside India to a person in India.
• All the e-commerce portals sellers
• Inter-state supplier of goods i.e. if you are a
  supplier of goods services in more than one
  state.

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Benefits of New GST Registration
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Simple least compliances
E-Commerce Business
Reduce the burden of tax
Heightening Economy
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Benefits of New GST Registration
The major benefits of new GST Registration are as
given below-
Simple Least Compliances
Reduce the Burden of Tax
E-Commerce Business
Heightening Economy
New GST Registration cuts down all the indirect
tax into one. GST Registration becomes
user-friendly. After registration, taxpayers need
to pay a single indirect tax which is GST i.e.
Goods Service Tax. There will be no need of any
additional compliance and processing. You can
complete and submit the form easily.
With new GST Registration, taxpayers need to pay
a single indirect tax all over India. New GST
registration will decrease the tax burden on
small scale industries and businesses. The
process of new GST registration is very easy and
its registration fee is also less.
The decline of the tax burden will help in
enhancing the consumption level. We all know that
when the price decreases, the consumption level
rises. This is the accurate situation where tax
rates have declined and as a result the
consumption level risen. It will result in
increase in productivity and heighten the economy
in the long run.
As without a new GST Registration number no one
can start the an online e-commerce business, so
GST certification provided a major advantage for
the e-commerce website like snap deals, Nykaa,
Club factory Myntra, etc. it must have a GST
registration before starting the business.
So, here are the major benefits of the new GST
Registration. It is very crucial to acquire
registration under GST for a better financial
future.
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Online Application Form
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After gathering all the documents, fill the
application form for GST Registration Online.
Submitting the Documents
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After completing the application form of GST
Registration online, you have to submit all the
essential documents.
Process of GST Registration Online
ARN i.e. Application Reference Number Generation
When all the documents have been registered, you
will get a 15 digits ARN i.e. Application
Reference Number code as a proof of the
confirmation of your GST Registration online.
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GST Registration Certificate GSTIN Number
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After the confirmation of GST Registration
online, you will receive your GST Registration
Certificate GSTIN i.e. Goods Services Tax
Identification Number within 10 days subject to
government approval.
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Conclusion
With new GST Registration you will get the
numerous benefits that exceptionally impact the
business's growth, efficiency, and market
competitiveness. GST Registration is the crucial
step for any business aiming for sustainable
success in the modern marketplace. For a flawless
registration under GST, you can seek the expert
guidance of professionals like Legal Pillers. We
will help you in the new GST Registration
effortlessly.
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Thank you
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91 9267941961
info_at_legalpillers.com
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